Published: Fri, December 08, 2017
Entertaiment | By Paul Elliott

Bears lose grip as value-buying lifts Sensex 352 points

Bears lose grip as value-buying lifts Sensex 352 points

Mumbai: Benchmark BSE Sensex regained the key 33,000 mark at the start of trading on Friday after buying by retail investors and domestic institutions gathered momentum amid strong global cues.

At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 10,166.70 points, was quoting at 10,205.70 points, up by 39 points or 0.38 per cent. The gauge had rallied 352.03 points on Thursday. Sustained buying in the trade on Thursday trade provided cushion to the indices that eventually led to both the Sensex and Nifty wrapping up the session with gains of over 1%.

On Wednesday, the key indices were dragged lower by interest-rate sensitive stocks like banking, metals and capital goods.

Overseas, the Asian markets saw the shares of most of the companies decline, since investors across the globe have an eye on the final tax legislation in the United States, where policy uncertainty kept sentiment in check.

The 30-share index was trading higher by 246.04 points or 0.75 percent at 33,195.25 at 1100 hrs.

Meanwhile, foreign portfolio investors offloaded shares worth net Rs 333.59 crore, while domestic institutional investors (DIIs) bought shares to the tune of Rs 776.18 crore on Tuesday, as per provisional data.

Bharti Airtel, Tata Motors and Maruti were the top gainers on Sensex.

The markets on Friday took off from the launchpad of yesterday's positive sentiment as Sensex gained nearly 200 points in initial trade.

The broader market depicted a mixed trend, with the BSE mid-cap ending up 0.41 per cent, while small-cap index finished 0.03 per cent down.

The US Dow Jones Industrial Average ended 0.16 per cent down yesterday.

Like this: